NEW YORK, June 1, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Travere Therapeutics, Inc. (“Travere” or the “Company”) (NASDAQ: TVTX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Travere and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 25, 2021, Travere issued a press release “provid[ing] a regulatory update for its sparsentan program in focal segmental glomerulosclerosis (FSGS).” The press release stated that “[i]n recently received final pre-NDA meeting minutes, the FDA acknowledged the high unmet need for approved therapies for the treatment of FSGS but indicated the available data from the interim assessment of the DUPLEX Study would not be adequate to support an accelerated approval at this time. Based upon this feedback, the Company no longer expects to submit for accelerated approval for FSGS in the U.S. during the second half of 2021. The FDA has indicated that it may be possible to submit an application for accelerated approval after additional data accrue in the study. Subject to further discussion with the FDA, the Company believes that it may be possible to provide sufficient additional estimated glomerular filtration (eGFR) data from the DUPLEX Study in the first half of 2022. The FDA has encouraged the Company to request a follow-up meeting to further explore this option in greater detail, and a Type A meeting is expected to occur in the third quarter of 2021.”
On this news, Travere’s stock price fell sharply $2.36 per share, or 13.30% to close at $15.39 per share on May 26, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP
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